If you’ve been wondering why President Obama’s “fixes” for solving healthcare, unemployment, the housing foreclosure crisis and now the debt ceiling “crisis’ have only managed to continue the downward spiral for the American people?

If, since 2009, you’ve wondered why President Obama has been such an inept negotiator for the American people?

Why his administration keeps bailing out Wall Street and feeding the military industrial complex or any industry — health care, insurance, auto, mortgage — that comes along with a need or a demand for the taxpayer’s dime, but somehow never manages to bail out the average taxpayer? Why a President who is a legally trained scholar would continue and even further so many of the Bush policies that undermined and subjugated the civil liberties and personal property rights of the American people?

If, since 2008, you’ve wondered — why Obama?

Why an inexperienced “present” voter was made president during a time of financial crisis? Why Obama’s records were never vetted? Why the Democratic party broke their own rules to mow down Hillary Clinton, the best qualified presidential candidate for our country and the times?

Then, I’d like to introduce you to Professor Michael Hudson, a financial economist, historian and Distinguished Research Professor of Economics at the University of Missouri-Kansas City. He may have an explanation for not only why Obama was elected, but why Obama is working so hard to make the economy worse for the American people.

According to Professor Hudson the why of Obama is really quite simple. Wall Street and global financiers have a plan they want to implement. And that plan needs a depression.

And Obama just happens to be the poser/puppet that will make that planned depression happen.

“The economy is seeking because investors realize that his [Obama's] deflationary attempt to cut public spending looks like a done deal. Trying to run a budget surplus will push the economy deeper into depression. When Clinton ran a budget surplus, the banks provided the increase in credit to keep the economy going. But now they have pulled back, as there is little surplus that has not already been pledged to pay the banks. So Mr. Obama’s advisors have convinced him to do what European political front men also are doing. A depression is deemed necessary to cut living standards and labor by about 30 percent. Mr. Obama’s aim is to lower American wage levels.

To do this, he needs an excuse, a cover story. The reality is that a depression will make the budget deficit even larger. Just as the plans to invade Iraq were written up before 9/11 provided a crisis atmosphere that became the opportunity to introduce them, so the response to the federal budget deficit is already outlined: Social Security and other “entitlements” will be cut back, as well as revenue sharing with the states and cities. So governments at the local level will have to sell of land, roads and whatever is in the public domain. The American government will look just like Greece and Ireland – so you may want to look at them as dress rehearsals.

Cutbacks in federal spending mean that the states can’t cover their own budgets – and their constitutions prevent many from running deficits. It looks like there will be little federal revenue to share with Minnesota or Wisconsin or the city of Chicago. They’re going to have to sell their roads and streets, sell their infrastructure and their public utilities, sell off whatever business enterprises they have that can bring in credit. These assets themselves will be sold on credit, to buyers who then will “expense” their profits as tax-deductible interest. So governments will not get the potential user fees that result from putting up parking meters on their sidewalks, tollbooths on their roads and other rent extraction facilities on their other assets. The financial sector will take all this.

…

It looks like he [Obama] will go down in history as a Herbert Hoover, being blamed for the depression that was not necessary and that the Republicans could not have gotten away with intensifying. Only a Democrat posing as a left-winger could support the anti-labor, anti-wage, pro-Wall Street policies that his advisors have been putting into his hands. This is what came out in the New York Times interview with Sheila Bair.”

Or, if state and federal governments hadn’t been selling off assets for years. A Cato Institute paper advocates Privatization by selling off post offices, toll roads, and utilities. And here are links to reports of recent lease/sales of the Indiana Toll Road, Chicago parking meters and Arizona state capital building to name just a few. Reading through the details of these deals, it is hard to believe these sales are really in the public’s long-term interest, and yet the pace is quickening and now local governments are joining the sell-off party too. Of course the government asset fire sales aren’t limited to the US or even Greece and Ireland. The UK tried to sell Sherwood Forest until citizens stopped it by taking to the streets.

Maybe Professor Hudson’s analysis seems like a belated attempt by the progressive left to join the “birthers” with an anti-Obama conspiracy theory of their own. Especially, when the likes of Mat Taibbi in his recent Rolling Stone article Debt Ceiling Deal: The Democrats Take a Dive is calling democratic politicians ”…a bunch of hired stooges put in office to lend an air of democratic legitimacy to what has essentially become a bureaucratic-oligarchic state…”

He then goes on to explain:

“The Democrats aren’t failing to stand up to Republicans and failing to enact sensible reforms that benefit the middle class because they genuinely believe there’s political hay to be made moving to the right. They’re doing it because they do not represent any actual voters. I know I’ve said this before, but they are not a progressive political party, not even secretly, deep inside. They just play one on television.

…Who spends hundreds of millions of dollars for what looks, on the outside, like rank incompetence?

It strains the imagination to think that the country’s smartest businessmen keep paying top dollar for such lousy performance. Is it possible that by “surrendering” at the 11th hour and signing off on a deal that presages deep cuts in spending for the middle class, but avoids tax increases for the rich, Obama is doing exactly what was expected of him?”

American homeowners shouldn’t be under siege by creditor predator banks, and millions of us shouldn’t be unemployed as debt-holders forced into a Survivor-like fight with each other over scraps. We cannot allow giant creditors to turn fights over debt into currency wars, and then into real wars.

But a new world order takeover is not just a theory of the progressive left. Back in the fall of 2009, Alex Jones released a documentary film called the Fall of the Republic, The Presidency of Barack Obama. It makes many of the same points as Professor Hudson through extensive talks with criminologists, economists, political analysts and the like, but Jones’ movie is considered to be right-winged by many.

At the very least, the idea that anyone would actually plan an economic depression seems too crazy to even imagine. Main Street America is too busy running the rat race to spend its leisure planning for global events 10, 20, even 30 years in advance. But then not everyone is busy running with us. Ever hear of the Bilderberg Group or the Trilateral Commission?

Whether it is truth or just a conspiracy theory that President Obama was the poser/puppet needed to bring about a planned economic depression and a new world order, only time will tell. But if we do get a new economic world order out of a planned depression — I can’t help wondering which of us will be left and who will we be serving and how?

If what Franklin D. Roosevelt said was true that “Presidents are selected, not elected,” then wouldn’t it make sense that the presidential selection would be influenced by both parties? And if there was a conspiracy to put a particular president in office, why would we ever assume the conspiracy ends at one party’s edge?

Share your thoughts!

Anonymous

Linda, what an intriguing, and disturbing, post. I have long wondered, though, how it was a relative unknown, and US Senator for 100 days (give or take) was ever even taken seriously for the position of President given his complete and utter lack of administrative ability, or even full-time jobs. Just abt every position he held was part-time (and I must quibble with the “scholar” title – I think that is one the Davids, Axelrod and Plouffe, built up to make him look better. He didn’t even get that position on his own merits. He was turned down when he applied for it, but someone on the board pulled some strings. Then he wrote his work of fiction on their dime. Just sayin’.).

Someone is pulling the strings here in a big, big way. Thank you for this provocative post – well done!

And just for clarification, it is worn to protect one from mind control, not create conspiracies.

Anonymous

OK – I am completely baffled. Everyone in the world is regarding this downgrade as the word of God.
Excuse me – aren’t these the same corrupt unregulated credit agencies whose ratings got us into this mess?
Who is paying them for this one?

Anonymous

I wouldn’t say they got us into this mess– they just went along with the traitors who did.

Anonymous

Disagree skep. If everyone thinks the word of these guys is scripture and they gave AAA ratings to financial instruments sold around the world that were pure crap because they were paid by Wall street, then they did more than just “go along”.

Anonymous

Exactly!!

Anonymous

We agree on the rating agencies having no credibility. I don’t know how they show their faces. But my real problem is with those men and women we elected who did not take their oaths seriously. They spent like there was no tomorrow and passed laws that allowed Wall Street to have things their way as well as our money.

Anonymous

I agree with you there about Congress rescinding all the watchdog laws that our smart elders put into place.
But I think the ratings agencies are beyond no credibility. I think they colluded in a criminal enterprise.

Buttered

Yes, these the same unregulated credit agencies…that are also “FOR-PROFIT” private companies.

They would never manipulate everything just for their own greed and profit now would they?

Lupe

Take a close look at the posthumous “Robert Ludlum” novels. The quotation marks are there because I really have to wonder where the plots came from. They seem so prescient to me that I can’t believe that they are primarily the work of anyone’s imagination. The only real make-believe seems to be that the good guys win in the books.

Also, heard an interesting webcast where Webster Tarpley, when asked to give his opinion of who is pulling Obama’s strings, named Pete Peterson, founder of Blackstone Hedge Fund, etc and Jamie Dimon of JP Morgan and both with strong Chicago associations.

Yes. There definitely has been something undemocratic occurring to say the least.

elaine

Linda, You’re now qualified to do lunch with Alex Jones, Jesse Ventura & Gerald Celente, after lunch yall could go & tour a fusion center. Big Sis doesn’t like it when people write this kind of stuff.

Anonymous

I would think that Democrats will like the new S&P rating, since they find “AA” easier to spell.

Anonymous

If what I heard Friday that the large banks are now charging institutional customers who hold large positions in US dollars just to keep it the vaults, then 1933 it will soon be.

The wage “write off” will change global migration patterns/and lines of economy along blurred national boundries. Human rights are very much secondary to any such plan hatched by the Skull and Bones chapter of the Bohemian Club. If one can imagine it has the time and patience of several generations, then the crowds at the edifice of Democracy will all be “lemmings without parachutes”, to quote an NQ poster of from 2007.
The Jack Welch labor approach has been adopted to fit the needs of the global socialist outreach. The whole concept of being an ocean away from European and Asian drama is gone. The labor of billions of Chinese citizens at pauper pay is what is to come. Debtors prison can be created to take many forms….
Exellent read. Thanks.
Back to casting the mold for my stargate.

elaine

Teak, I think it was The New York City Bank of Mellon that made the news by charging depositors. Turns out it was depositors of 50 Million or more, that’s a lot of paper work, diveying it up to various other branches & possibly institutions to keep up FDIC coverage while bundeling it all into little stacks of less than 250K a piece

Anonymous

When my 2nd son graduated from college, his first job was working for “Manny Hanny”:(Manufacturer’s Hanover Trust Co.). He and many others spent all day every day just posting interest on large deposits held overnight at the bank.
Needless to say, he wasn’t enthralled with his work.

Anonymous

Thanks TeakWK!!

Excellent comment. Yes, we are in interesting times. And it is only the beginning. As you point out the effects are going to be monumental.

Good luck on the stargate!

Wbboe

The fact that the markets were calm enough before the deal and went to hell only after the deal was struck suggests that the reason for the downgrading of our rating and the stock market crash is because the deal was too meager to warrant investor confidence that we will ever get our financial house in order. If John Bachelor is right–and I think he is–that they were looking perhaps for something in the 6 trillion range of cuts as opposed to the 2.8 trillion agreed to, then McConnel and Boehner are the culprits here. The democratic congress is a joke and Obama has no plan so he is beyond a joke. It really was up to the Republicans to hold their ground and instead they let fear of big media dictate their actions. A bad deal leads to a downgrading of our credit rating which may well ultimately cause the dollar to lose its reserve currency status. That is serious, because it will happens then we will lose our ability to export our inflation to the world.

Guest

”The reality is that a depression will make the budget deficit even larger.”
I agree it is a pro-rich agenda, but we are already in a depression. Even before this deal, the president’s own budgets show the National Debt continuing to soar year after year after year. Deep cuts in spending ? Because Obama says in a speech he believes in running a budget surplus according to Hudson he is in reality governing to the right of George Bush, Sarah Palin, and Michele Bachmann and Congress won’t stand up to it because he is a Democrat ?

Let’s be level-headed about this. How do we assess whether or not claims are crazy conspiracy theories?

That’s when everyone’s shoes came off, and things kicked into high
gear with the barefoot jammin’–the President himself reportedly danced
for three full hour. Among other dances, guests did the Electric
Slide…The President also led a huge Conga line around the East Room, pulling in everyone in his path, according to one observer. “He was chill, and like, ‘how you doin, man? Come dance!,’” reported one attendee.

helenk there can’t be enough likes for that very good comment. kudos to you

Anonymous

helenk there can’t be enough likes for that very good comment. kudos to you

HELENK

S&P lower America’s credit rating for the first time in history. It is now AA+.
Wright and Ayres and all his anti-American mentors must be so proud of backtrack. He is doing a hell of a job downgrading this country. What Ayres and company could not do with a bomb they are doing with obama.

2012 can not come soon enough

unemployment needs to start in DC asap

WOMEN WITH INTELLIGENCE AND EXPERIENCE,MEN WHO SUPPORT THEM AND COUNTRY BEFORE PARTY ALWAYS

Interesting aspect of the downgrade..the article I read said that one of the factors contributing to the downgrade was the inability of the politicians to agree on anything. Political infighting doesn’t get the job done, and therefore is not likely to help the situation in any way. So the politicians are part of the reason for the downgrade. Someone should point this out to them. Maybe they will shut up, stop slanging each other and get some work done, for a change.

Anonymous

They’re going to have to sell their roads and streets, sell their
infrastructure and their public utilities, sell off whatever business
enterprises they have that can bring in credit. These assets
themselves will be sold on credit, to buyers who then will “expense”

their profits as tax-deductible interest. So governments will not get
the potential user fees that result from putting up parking meters on
their sidewalks, tollbooths on their roads and other rent extraction
facilities on their other assets. The financial sector will take all
this.
_______________________________________________________

Some excerpts:Gov. Jerry Brown, who has been receiving kudos from political analysts for sticking to his promises on how to turn California’s
fiscal fortunes around, said Wednesday he will forego the sale of 11
state buildings to raise cash, a move that “didn’t really make much
sense.”

The sale of the buildings, which would have netted $1.2 billion to
help plug California’s budget deficit of $25.4 billion, was negotiated
by the administration of former Gov. Arnold Schwarzenegger.
Following
the deep recession, several states have been considering the sale of
state properties to close record budget deficits, among them Pennsylvania, Arizona, and Connecticut. But Governor Brown came to office determined to put his foot down…………………….
Under the Schwarzenegger administration’s plan, state offices would
have remained in the buildings after the sale and the state would
have
continued paying rent.
“The sale of the buildings didn’t really make much sense,” Brown said at morning press conference in Sacramento.
“It is in effect a gigantic loan with interest payments equal to 10
percent every year.” Experts say Brown has been listening carefully to
economic advice from outside his administration.
“The sale would
make sense only if you assume that we’re desperately short on money
today but will be flush with cash in the years ahead,” says Jack Pitney, professor of government at Claremont McKenna College. “Brown is acknowledging that there is no pot of gold
at the end of the rainbow. [Selling the buildings would be] the
economic equivalent of a sugar high, and Brown wants to put the state on
a diet.”

Anonymous

So don’t think this is a Democratic conspiracy in place everywhere. Republicans are just as responsible.

I do agree that Obama was “selected” and not “elected.” It was more than coincidental that a very articulate, camera-ready political lightweight is suddenly elevated to nominee for President. It was also more than coincidental that at the very time that McCain surged ahead of Obama in the polls that we had an unexpected market meltdown which handed the election to Obama. I have believed that George Soros has been the puppet master of Obama. People like Soros want a new world order and one that benefits him more than the current one.

The only question I have is if the current economic problems here and in Europe are a result of manipulation or a result of excessive liberal policies gone bad.

Anonymous

I do agree that Obama was “selected” and not “elected.” It was more than coincidental that a very articulate, camera-ready political lightweight is suddenly elevated to nominee for President. It was also more than coincidental that at the very time that McCain surged ahead of Obama in the polls that we had an unexpected market meltdown which handed the election to Obama. I have believed that George Soros has been the puppet master of Obama. People like Soros want a new world order and one that benefits him more than the current one.

The only question I have is if the current economic problems here and in Europe are a result of manipulation or a result of excessive liberal policies gone bad.

Ferd_Berfle

The only question I have is if the current economic problems here and in
Europe are a result of manipulation or a result of excessive liberal
policies gone bad.
====================
If I were a betting man, I’d say both.

Anonymous

How about – manipulation and excessive liberal and conservative policies gone bad.

Buttered

Thank you Hokma.

I’m glad to know I’m not alone in remembering this.

RE: “…at the very time that McCain surged ahead of Obama in the polls that we
had an unexpected market meltdown which handed the election to Obama.”

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